Cara Therapeutics, Inc. (NASDAQ:CARA) Given Average Rating of “Hold” by Analysts

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have received a consensus recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $2.32.

A number of equities research analysts recently weighed in on CARA shares. HC Wainwright cut shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $1.00 target price (down from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Canaccord Genuity Group lowered Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $10.00 to $1.00 in a research report on Thursday, June 13th. Needham & Company LLC downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, StockNews.com assumed coverage on shares of Cara Therapeutics in a research report on Sunday, August 25th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp raised its stake in shares of Cara Therapeutics by 71.2% during the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 22,329 shares during the last quarter. Federated Hermes Inc. raised its position in Cara Therapeutics by 3.5% during the 4th quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock worth $618,000 after buying an additional 28,365 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics in the 1st quarter worth $86,000. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Cara Therapeutics by 6.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after acquiring an additional 120,660 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new position in shares of Cara Therapeutics during the first quarter worth about $1,409,000. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.36 on Tuesday. The stock’s 50-day simple moving average is $0.33 and its 200-day simple moving average is $0.60. The firm has a market capitalization of $19.68 million, a PE ratio of -0.16 and a beta of 0.69. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $2.85.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. On average, sell-side analysts forecast that Cara Therapeutics will post -1.28 earnings per share for the current fiscal year.

About Cara Therapeutics

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company's lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.